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Bloomberg It may be starting to sound like a broken record for emerging markets, with the twists and turns of US-China trade tensions likely to dominate investor concerns this week. That’s not to say Federal Reserve Chairman Jerome Powell’s two-day Congressional testimony and even the outcome of Monday’s meeting between Donald Trump and Vladimir Putin in Finland won’t have a ...

ABU DHABI / WAM In a report celebrating its 47th anniversary, Abu Dhabi Fund for Development (ADFD) announced that it has expended a total of AED84 billion to finance approximately 550 projects in 88 beneficiary countries. Since its inception on July 15, 1971, ADFD has disbursed AED37 billion in concessionary loans, AED44 billion in UAE government grants and AED3 billion ...

MOSCOW / WAM France won the World Cup Russia in a thrilling final with Croatia at Moscow’s Luzhniki stadiumon on Sunday. France overwhelmed Croatia 4-2 to be FIFA World Cup 2018 champion for second time, after winning in 1998. Croatia was playing in its first World Cup final. For France, it was a first World Cup crown since winning on ...

ABU DHABI / WAM The UAE Cabinet has affirmed that the UAE’s competitiveness as a leading destination in family tourism supports the national economy and enhances domestic and foreign investments in the tourism sector. This came during the Cabinet’s approval of a decision to exempt the accompanying dependents of foreign tourists under the age of 18 from visa fees, from ...

Bloomberg Vitol Group, the world’s largest independent oil trader, is among firms considering bids for Spanish oil company Cepsa Trading SA as its owner weighs alternatives to an initial public offering planned for later this year, according to people familiar with the matter. Cepsa, owned by Abu Dhabi wealth fund Mubadala Investment Co, could be valued at around 10 billion ...

ABU DHABI / WAM The number of Chinese investors in the UAE’s money markets reached 817 as of end of 2017, and value of their trades exceeded AED900 million, according to official statistics of over 15 Chinese investment institutions in the UAE. In 2017, the numbers of buy and sell deals by Chinese investors in the Dubai Financial Market (DFM) ...

DUBAI / Emirates Business Union National Bank (UNB), one of the leading banks based in the United Arab Emirates, recorded a profit of AED841 million for the first half of 2018. The profit for the second quarter of 2018 of AED416 million was lower by 2% quarter-on-quarter as the group continued to remain selective to book new business amid scheduled ...

DUBAI / WAM Sharjah Islamic Bank (SIB) has achieved a net profits of AED 283.0 million in the first half 2018 compared to AED272.9 million in same period last year, a 4 percent increase. According to first half financial results, total assets reached AED42.8 billion at the end of H1 compared to AED38.3 billion at the end of 2017, representing ...

Abu Dhabi / WAM The UAE and China are keen to reinforce and strengthen their overall ties, including in the tourism sector. The strength of their bilateral ties has contributed to the significant growth of the number of Chinese tourists visiting the UAE, which totalled some one million tourists in 2017, as well as to their growing mutual commercial and ...

Abu Dhabi / WAM The Hala China initiative, jointly launched by Meraas and Dubai Holding earlier this year, announced the signing of its first strategic agreements at a press conference. The event was organised by Meraas, with support from the Consulate-General of the People’s Republic of China in Dubai, and also saw the establishment of a new Hala China Board ...